APPENDICES:
Tables:
1. Value of Imports and Exports, and Excess of Imports or Exports,
fiscal years 1916-17 to 1942-43.............................................. 39
2. Value of Imports showing countries of origin in percentages, fiscal
years 1916-17 to 1942-43.......................................................... 39
3. Value of Exports showing countries of destination in percentages,
fiscal years 1916-17 to 1942-43................................................... 40

III

i-.; f*

APPENDICES

Pages
4. Value of Total Foreign Commerce by countries in percentages, fiscal
years 1916-17 to. 1942-43........................................ ................... 40
5. Value and Percentage of Value of Imports, Exports, and Total
Foreign Commerce by countries, fiscal year 1942-43...................... 41
6. Value of Imports by Ports of Entry, fiscal years 1916-17 to 1942-43 41
7. Value of Exports by Ports of Shipment, fiscal years 1916-17 to
1942-43 ........................................................ ......... ...................... 42
8. Value and Percentage of Value of Imports, Exports and Total Foreign
Commerce by ports, fiscal year 1942-43...................................... 42
9. Net tonnage of Sailing Vessels in Foreign Commerce Entered by
Registry and Months, fiscal year 1942-43..................................... 43
10. Value of Imports by Registry of Carrying Vessels, fiscal year 1942-43 44
11. Value of Exports by Registry of Carrying Vessels, fiscal year 1942-43 45
12. Value of Imports by Months and Ports of Entry, fiscal year 1942-43
compared with 1941-42.................................................................. 47
13. Value of Exports by Months and Ports of Shipment, fiscal year
1942-43 compared with 1941-42................................................ 47
14. Value of Imports by Commodities, fiscal years 1916-17 to 1942-43 48
15. Quantity of Imports by Commodities, fiscal years 1916-17 to 1942-43 49
16. Value of Exports by Commodities, fiscal years 1916-17 to 1942-43 50
17. Quantity of Exports by Commodities, fiscal years 1916-17 to 1942-43 50
18. Quantity and Value of Five Principal Exports by ports, fiscal year
1942-43 compared with 1941-42.................................... ........... 51
19. Percentage of Value of Exports by Commodities, fiscal years 1916-17
to 1942-43 .................................................................. ..................... 52
20. Quantity and Value of Exports by Commodities and Months, fiscal
year 1942-43................................................... .............................. 53
21. Expenses of B.N.R.H., Fiscal Departement (and previous Administra-
tions) by objects of Expenditures, fiscal years 1916-17 to 1942-43.... 54
22. Classification of Administration and Operation Expenditures of
B.N.R.H., Fiscal Department, fiscal year 1942-43............................... 54
23. Classification of Total Expenditures of B.N.R.H., Fiscal Depart-
ment, fiscal year 1942-43......................................... .................... 55
24. Cost of Customs Operations by Ports and Cost of Administration,
Repairs and Maintenance, Acquisition of Property and Fixed Charges,
fiscal years 1919-20 to 1942-43................................................ 56
25. Operating Allowance of Internal Revenue Service, fiscal years 1923-
1924 to 1942-43.................................................. ....................... 57
26. Revenues of Haiti by Sources, fiscal years 1889-90 to 1942-43........ 58
27. Relation between Import and Export Values and Customs Receipts,
fiscal years 1916-17 to 1942-43.................................... ........... 59
28. Customs Receipts by Months, fiscal years 1916-17 to 1942-43............ 60
29. Customs Receipts by Ports, fiscal years 1916-17 to 1942-43........ 61
30. Customs Receipts by Sources and Ports, fiscal year 1942-43............ 62
31. Customs Receipts by Sources and by Months, fiscal year 1942-43.... 62
32. Distribution of Customs Receipts, fiscal years 1916-17 to 1942-43.... 63
33. Miscellaneous Receipts by Sources and Months, fiscal year 1942-43 63
34. Total Receipts of Haitian Governement by Sources, Months and Ports,
fiscal year 1942-43.............................................. ......................... 64

Schedules:
1. Quantity and Value of Imports into Haiti by Countries of Origin,
fiscal year 1942-43.............................................. ......................... 81
2. Quantity and Value of Exports from Haiti by Countries of Destina-
tion, fiscal year 1942-43......................................... .................... 98
3. Customs Receipts by Sources, Ports and Months, fiscal year 1942-43 107

BANQUE NATIONAL DE LA' REPUBLIQUE D'HAITI

ANNUAL REPORT OF THE FISCAL DEPARTMENT
FOR THE FISCAL YEAR
OCTOBER 1942 -SEPTEMBER 1943

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

ANNUAL REPORT

of the

FISCAL DEPARTMENT

covering the fiscal year

OCTOBER, 1942- SEPTEMBER, 1943

Port-au-Prince, Haiti, November 20, 1943.

To the
BOARD OF DIRECTORS OF THE
BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI.

Sirs:

There is presented herewith the Annual Report of the Banque Nationale
de la Republique d'Haiti, Fiscal Department, for the fiscal year ended
September 30, 1943. The practice of previous years, of incorporating in
the Report material of general interest .affecting the economic life of Haiti,
in addition to material relating, exclusively, to the affairs of the Banque
National de la Republique d'Haiti, Fiscal Department, has, this year once
again, been followed.
It will be recalled that as of October 1, 1941, in accordance with the
terms of an Executive Agreement between Haiti and the United States, the
Banque Nationale de la Republique d'Haiti, Fiscal Department, took over
functions, including the administration of the Customs and the Central
Accounting Services of the Government, theretofore exercised, under the
terms of an earlier Agreement, by an independent organization.
The first year of operation of the new administration coincided, roughly,
with the first year of World War II. In last year's Annual Report, there
were outlined certain of the unusual problems and difficulties with which,
on this account, the new administration was faced. Fortunately, as the
months of that year passed, it became evident that although the situation
was serious, gradual improvement might, reasonably, be expected.
The year 1942-43, at present under review, was one of continued
adjustment to abnormal conditions. The early months of the year were
marked by much uncertainty arising, chiefly, out of irregular shipping
services, the tonnage shortage and restrictions imposed on exports from the
United States. Gradually, as the year progressed, it became evident that

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

conditions were definitely better than had, previously, been thought pos-
sible. When the year closed, it was found that foreign commerce values,
Government receipts, and other indices of the state of the country's eco-
nomic health had all shown, for the twelve months, a very marked im-
provement over the figures recorded for the previous fiscal year.
It may be of interest to summarize here, briefly, certain of the salient
features of the year's operations, details of which will be found in subse-
quent sections of this Report.
The improvement in trade in 1942-43 and the consequent strengthening
through improved Government receipts, of the position of the Public Trea-
sury appear to have been due, for the most part, to rising prices. Although
the enemy submarine menace in the South Atlantic was less acute in 1942-
43 than in the previous year, and although shipping services functioned
with somewhat greater regularity, the tonnage of Haitian imports and
exports was actually smaller in 1942-43 than in the earlier year. The
higher prices received for Haitian coffee and certain other export products,
however, and the higher prices paid for purchases in the United States
resulted in a marked increase in the value of both exports and imports. It is
gratifying to record that the increase in the value of exports was, propor-
tionately, greater than the increase in the value of imports. To this extent,
the country's trade position was strengthened. It should be added that the
importation of capital to meet the increased payrolls of enterprises engaged
in the production of strategic materials entered also, in 1942-43, to an
important degree, into the international economic equation.
Certain of the more significant developments in the foreign trade field
in 1942-43 were the almost complete cessation, for a time, of banana
exports and the marked decline in sugar exports as compared with 1941-42.
These factors were, in part, offset by a marked increase in the volume and
value of coffee exports. The expansion of exports of sisal hand-bags and
novelties, although a minor item, also seems to warrant mention here.
On the import side, Haiti felt the effects of wartime prohibitions and
restrictions in the United States. This was true, notably, in the case of
automobile tires, the local scarcity of which, insofar as the general public
was concerned, seriously affected economic and social life. There were,
however, as will be seen in a later chapter of this Report, relatively heavy
imports of tires for enterprises engaged in the production of strategic
materials.
Customs collections were substantially higher in 1942-43 than in the
previous year and, since the trend toward higher prices had been reflected
for some time past in greater profits for individual enterprises, internal
revenue receipts also showed substantial gains. A somewhat fairer distri-
bution of the tax burden as between customs and internal revenue resulted
from the year's operations.
As the fiscal year drew to its close, the outlook was unquestionably much
brighter than had been the case a year earlier. Then, Government liabil-

REPORT OF FISCAL DEPARTMENT

ities had exceeded assets. Now, as a result of a single year's operations, a
modest surplus had been built up. It was still impossible to plan ahead,
with any degree of assurance, but there seemed no reason to expect an
immediate reversal of prevailing favorable trends.
It was with this background that President Lescot, as the year closed,
left Haiti for a trip which would take him to Canada, the United States
and Cuba. At Washington, he planned to confer with the President of the
United States and with the heads of various Government Departments
regarding many problems which vitally affect Haitian economic life. Because
the program for the future would depend, so largely, on the results of these
conversations, it was decided to postpone, until President Lescot's return
to Haiti, promulgation of a definitive budget for 1943-44. Arrangements
were, therefore, made whereby, for the opening months of the new fiscal
year, expenditures would be.effected in accordance with the budget for
1942-43 which, in May, 1943, with a single minor change, had been
promulgated also as a provisional budget for 1943-44. It was under these
conditions that, as of September 30, 1943, the fiscal year closed.
There follows a more detailed presentation of the facts which served as
basis for the foregoing brief review.
Government Revenues
Fiscal receipts of the Government from all sources during the fiscal year
ended September 30, 1943, totalled Gdes. 32,729,086.58*. In the previous
year, total revenues amounted to only Gdes. 25,599,255.80. In making a
comparison between the receipts collected in 1942-43 and 1941-42, it
should be pointed out that collections in-1941-42 were lower than in any
year since 1921-22. It is also interesting to note that the 1942-43 receipts
were almost Gdes. 2,000,000 less than the annual average over the previous
period of twenty years.
Government revenues in the fiscal year 1942-43, classified by sources,
as compared with those of the previous fiscal period, were as follows:
Sources Receipts
1942-43 1941-42
Customs : Gourdees Per cent Gourdes Per cent
Imports .............................. 16,127,961.62 49.3 15,712,472.03 61.4
Exports .......................... 6,137,093.69 18.8 3,634,259.70 14.2
Miscellaneous .................... 50,460.35 0.1 47,787.08 0.2
Internal Revenues .................. 8,667,619.33 ,26.5 5,337,416.04 20.9
Miscellaneous Government Re-
ceipts ............................ 1,318,644.99 4.0 498,046.61 1.9
Receipts from Communes.......... 427,306.60 1.3 369,27-4.34 1.4
Total Revenues ................... 32,729,086.58 100.0 25,599,255.80 100.0
From the above percentage columns it will be noted that there was
considerable change from the previous year in the relative positions of the
important classifications of receipts. It is of particular interest to note
that internal revenues accounted for 26.5 per cent of total fiscal receipts.
*One gourde equals twenty cents, U. S., and the gourde is, by law, exchangeable on demand and without
expense at the fixed rate of five gourdes for one dollar, U. S.

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

Furthermore, miscellaneous Government receipts accounted for an unusually:
high percentage of the total, but, as will be explained in a later paragraph,
a considerable proportion of these receipts represented non-recurring items.

Customs Receipts
Total receipts from customs sources amounted to Gdes. 22,315,515.66
and represented 68.2 per cent of all revenues, as compared with 75.8 per
cent in 1941-42 and 79.8 per cent in 1940-41.
Haiti has, in the past, depended on Customs collections for as much as
80 to 90 per cent of Government Revenue. The extent of this dependence
on Customs receipts has always been a weak point in the country's revenue
structure. For this reason, the fact that internal revenues are now gaining
in importance seems to merit special emphasis.
Although the total volume of imports and exports declined in 1942-43,
as compared with the previous year, it became increasingly evident, as the
year progressed, that sufficient tonnage would be made available to meet
Haiti's essential requirements. Submarine activity appeared to be decreasing
and although a tonnage shortage was still felt, notably in the case of vessels
to transport bananas, prices were rising and import and export revenues
for the year, as a whole, were both considerably higher than in 1941-42.
It is believed that there remains in the hands of the Haitian people a
comparatively large reserve of purchasing power which has been derived
from capital expenditures in the country by the Socift# Ha'itiano-Ameri-
caine de Developpement Agricole (SHADA), and other organizations
engaged in the production of strategic materials, as well as from the export
trade balance. When transportation, quota and other restrictions are
removed, this unused purchasing power will be available for the purchase
of increased quantities of foreign goods which, in turn, will tend still
further to increase import revenues.
The principal sources of import revenues, in order of yield and compared
to the yield of the previous fiscal year, were:

As usual, cotton goods accounted for a considerably greater proportion
of import receipts than any other schedule. The increase of more than
Gdes. 500,000 in the amount of duties derived from cotton goods is
explained by an increase in the unit price of cotton manufactures, since the
volume of these articles was only slightly higher than in 1941-42. On the
other hand, the increase of Gdes. 470,000 in the amount of import duties
derived from flour results from an increase in the volume of flour imports.
This article is subject to a specific duty only and price rises do not affect
the tariff yield.
In the earlier fiscal year, 1941-42, imports of rubber tires and tubes
were extremely low due to the rubber shortage and restrictions on exports
from the United States. In 1942-43, in order to meet requirements of
several organizations engaged in the production of strategic materials
in Haiti, considerably more tires and tubes for automobiles and trucks
were released for shipment to Haiti than had been the case in the previous
year. This is reflected in the preceding table, which indicates an increase
of Gdes. 244,000 in the amount of duties derived from rubber goods. The
revenues derived from wool, linen, silk goods and jute bags were consider-
ably higher than in the preceding year, the increase being explained primar-
ily by price increases. The sharp decline in revenues from gasoline and
kerosene reflects the reduction in the volume of these articles received during
the year, due to rationing necessitated by the war effort.

Export Revenues
Export duties rose from Gdes. 3,634,259.70 in 1941-42 to Gdes.
6,137,093.69 during the year under review. Export revenues are principal-
ly derived from the specific duties levied on coffee. The quantity of coffee
shipped during the year amounted to 25,847,237 kilos while the duties
paid on the shipments totalled Gdes. 5,615,366. During the prior year,
coffee shipments amounted to 18,104,711 kilos and yielded Gdes. 2,905,-
658 in duties. It will be noted that the duties collected increased in a
greater degree than the volume of coffee shipped. The explanation lies
in the fact that all of the coffee exported during the fiscal year 1942-43 was
subject to a special export tax of Gdes. 5.00 per bag of 80 kilos whereas
this special tax was applied in 1941-42 only to the relatively few shipments
effected in that year which were chargeable to the 1942-43 quota.
Export revenues by sources were as follows in 1942-43 and 1941-42:
1942-43 1941-42
Gourdes Per cent Gourdes Per cent
Coffee ......................................... 5,615,366 91.50 2,905,658 79.95
Sisal .......................................... 153,533 2.50 165,535 4.55
Sugar .......................................... 118,839 1.94 198,142 5.45
Goatskins .................................... 71,644 1.17 35,838 0.99
Bananas ...................................... 47,349 0.77 135,899 3.74
Cotton ........................................ 41,961 0.68 47,991 1.32
All other .................................. 88,401 1.44 145,197 4.00
Total...................................... 6,137,093 100.00 3,634,260 100.00

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

In considering the increased relative importance of coffee as a revenue
producing item, in 1942-43, the stagnation of the banana business and a
slight decline in collections of duty on sisal exports must also be taken
into account.
Internal Revenues
Internal revenue collections in 1942-43 established an all-time high
record, having amounted to Gdes. 8,667,619.33. The nearest approach
to this figure was in 1929-30 when internal taxation yielded Gdes.
6,620,164.04. In the fiscal year 1941-42, these receipts totalled Gdes.
5,337,416.04.
Excise taxes amounted to Gdes. 1,448,148.63 or 16.7 per cent of all
internal revenues. The excise group includes alcohol, tobacco products,
vegetable oil, lard substitutes and soap. The tax on cigarettes totalling
Gdes. 786,821.54 represented more than half of all excises.
During the fiscal year ended September 30, 1943, public service charges
accounted for 16.9 per cent of total internal revenues. In addition to the
Post Office, the Government owns and operates the telephone and telegraph
systems, the urban hydraulic systems and, in most part, the rural irrigation
systems. The following table shows the receipts from. and the expendi-
tures by, these Services during the fiscal year 1942-43:

Public Service Operations
Receipts Expenditures
Gourdes Gourdes
Telephone & Telegraph............ 476,913.51 495,797.91
Post Office ............................. 471,685.46 328,113.08
Hydraulic Service ................. 422,838.00 183,535.15
Irrigation .............................. 95,433.15 47,985.89
Total................................ 1,466,870.12 1,055,432.03
It will be noted that only the Telegraph and Telephone Service showed
an operating deficit and that the combined Services operated at a profit of
Gdes 411,438.09.
In the following table, sources of internal revenue yielding more than
Gdes. 100,000 are listed in the order of yield. The extent to which there
were increases or decreases from the preceding year is also given:

The income tax accounted for 31.6 per cent of all internal revenues and
was by far the most important source. Income tax receipts in 1942-43
were more than 400 per cent higher than those collected in the previous
record year, 1929-30, when receipts from this source amounted to Gdes.
666,327.25. The rates were increased in the course of the fiscal year 1941-
42 but it was only during 1942-43 that the increases were reflected, in
full, in total receipts for the year. This fact as well as the fact that local
firms producing and exporting agricultural products continued to receive
comparatively high prices for their products accounted for the favorable
showing under the income tax schedule.
The next most important source of internal revenue was the excise on
cigarettes which showed an increase over the preceding year of some Gdes.
196,000 and accounted for 9.1 per cent of all internal revenues.
The increase of some Gdes. 246,000 in identity card fees reflects more
widespread employment, principally in agricultural projects of a strategic
nature, as well as improved methods of collection.
In the course of the fiscal year 1942-43, several new issues of postage
stamps were placed on sale, and a considerable part of the increase of
Gdes. 216,843.88 in stamp receipts is probably due to the purchase of the
new issues by collectors. However, the sharp increase in shipments, by
parcel post, of locally manufactured sisal handbags doubtlessly accounted
for the greater part of the rise in stamp sales.
An increase in the rates for water service accounted for the increase of
Gdes. 109,374.05 in the receipts from this source.
The only category of internal revenue receipts showing a decline of any
importance from the prior year was automobile licence fees. This, of
course, is explained by restrictions on exports from the United States of
automotive vehicles as well as the restrictions on exports of tires, tubes and
gasoline and local rationing of these articles.

From 1940-41 through 1942-43, the Communes contributed 10 per
cent of their gross revenues to the Public Treasury. Such contributions

BANQUET NATIONAL DE LA REPUBLIQUE D'HAITI

were authorized by special legislation and were designed, primarily, to aid
the Government during the period of comparatively low revenues.
The principal source of returns on investments was the dividend from
the Commercial Department of the Banque Nationale de la Ripublique
d'Haiti. The profits of the Bank are distributed as follows: one-third
to the Public Treasury, one-third for the development of projects designed
to increase exports, and one-third to build up the surplus of the Bank.
The dividend declared in the fiscal year 1942-43 amounted to Gdes.
300,000 and one-third of this, or Gdes. 100,000 was taken up as miscel-
laneous receipts of the Government. Other returns on investments include
interest on bonds of the Republic held in the treasury investment account
and interest on balances on deposit with the Fiscal Agent for the payment
of interest and amortization of Series A and Series C bonds.
Receipts from the third source of miscellaneous revenues mentioned
above conversion of francs have, in previous years, consisted of in-
terest on funds held in trust by The National City Bank of New York for
the benefit of the remaining bondholders of the 1910 Loan until they chose
to redeem their bonds. However, during 1942-43, the balance remaining
in the trust fund, Gdes. 697.929.35, was closed out and credited as
miscellaneous receipts of the Haitian Government, due to the prescription of
the bonds not presented for redemption. All of the outstanding bonds of
the 1910 loan were called as of May 15, 1923, and sufficient funds to
redeem them at par were made available for this purpose through' The
National City Bank of New York. Such bonds as had not been presented
for redemption twenty years later, or on May 15, 1943, became subject
to prescription and the funds representing the counter-value of these bonds
were returned to the Haitian Treasury during the year and taken up as
miscellaneous receipts.
Unclassified miscellaneous receipts amounted to Gdes. 174,208.58 in
1942-43. The principal item consisted of an amount of Gdes. 121,039.37
which was paid into the Public Treasury from the surplus built up by
the communal administrations during the fiscal year 1941-42. The said
amount, which corresponded to the amount of the deficit in the general
account of the Government as of the close of the prior year, was applied
toward amortization of the loans which had been advanced to the commu-
nal administrations by the Government in the course of the previous fiscal
years.

Government Expenditures
The following table shows expenditures from revenue during 1942-43
by Departments and Services. All disbursements from ordinary, supple-
mentary (or deficiency) and extraordinary appropriations are included.

From the above table it will be seen that expenditures in 1942-43
exceeded those of 1941-42 by Gdes. 303,820.02. It is interesting to note
at this point that fiscal receipts exceeded fiscal expenditures in 1942-43 by
Gdes. 4,699,104.96.
Expenditures of the Garde d'Ha'iti remained higher than those of any
other Department or Service of the Government. It is interesting to note,
however, that expenditures of the armed forces of Haiti, from fiscal revenue
sources, were Gdes. 306,849.29 less than in 1941-42. However, in the
course of the year ended September 30, 1943, the Garde d'Ha'iti received
for national defense purposes certain amounts from non fiscal sources. These
funds were, for the most part, transferred, in conformity with the decree-
law of June 15,1942, from the blocked accounts of enemy nationals by the
Sequestrator-Liquidator General. It can, therefore, be said that the activities
of the Garde d'Ha'iti in 1942-43 were not on a lesser scale than in the
prior year.
Expenditures for service of the public debt were Gdes. 209,670.68 more
than in the preceding year. This increase was accounted for by payment
of interest on the additional advances received under the Public Works
Contract of July 6, 1938, as modified in 1941, as well as by an amortiza-
tion payment of Gdes. 150,000 effected in the course of the year under the
terms of the same contract. Interest payments on the Series A and Series
C loans were met in full and, as in the previous year, an amount of Gdes.
100,000 was paid toward amortization of these loans.
Disbursements of the Department of Public Works in 1942-43 were
Gds. 323,678.83 less than in the previous year. In 1941-42, expenditures
under the budget of the Department of Public Works for the lighting of

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

the streets and public buildings of the cities of Port-au-Prince, Petionville,
Cap-Haitien and Gona'ves amounted to Gdes. 582,000, whereas in 1942-
43 these payments were only Gdes. 144,000. The lesser payments in the
year just ended resulted from the fact that, due to restrictions on fuel oil,
there was no street lighting whatever in the cities mentioned during 1942-
43. The black-out of the street lights was effective only for the last few
months of the prior year.
The Public Health Service expended Gdes. 118,575.68 more in the
fiscal year 1942-43 than in the fiscal year 1941-42. A considerable part
of this increase was accounted for by the creation of a corps of sanitary
inspectors as well as the establishment of a section for the control of
malaria.
The Department of Interior showed a decline of Gdes. 58,649.19 when
comparison is made with the expenditures effected in 1941-42. The
primary explanation of this decrease lies in the fact that in the preceding
year certain extraordinary, non recurring, appropriations were opened and
expended.
The expenditures of the Fiscal Department of the Banque Nationale de
la Republique d'Haiti showed a slight decline from the preceding year
while those of the Internal Revenue Service were greater than in 1941-42.
Further remarks will be made relative to these expenditures in the succeed-
ing sub-sections.
The expenditures of the Department of Finance in 1942-43 were Gdes.
19,762.76 less than in the preceding year, due primarily to the fact that
fewer claims were paid in the course of the year under review.
In the course of the year 1942-43, the Department of Foreign Affairs
recorded expenditures which were Gdes. 167,458.87 in excess of those
effected in 1941-42. The greater part of this increase resulted from the
raising of the Haitian Legation at Washington to the rank of Embassy,
and from the payment of some Gdes. 109,000 toward the purchase of an
Embassy building. There was also a substantial contribution, through
the Department of Foreign Affairs, toward the construction of a bridge
across the Massacre River, which marks the border between Haiti and the
Dominican Republic in the northern part of the island.
The budgetary expenditures of the Department of Religion were ap-
proximately the same in 1941-42 and 1942-43. In the latter year,
however, certain extraordinary appropriations were opened and expended
for the construction and repair of churches and to cover the cost of the
December 8, 1942, religious ceremony in connection with the Consecration
of Haiti to Our Lady of Perpetual Help. As a consequence of these extra-
ordinary expenditures, total disbursements of the Department of Religion
in 1942-43 were Gdes. 57,391.95 greater than in 1941-42.
The Department of Commerce and National Economy extended its
activities considerably in the course of the fiscal year 1942-43, due primari-
ly to the setting up of certain special War Emergency Services which are

REPORT OF FISCAL DEPARTMENT

described in a subsequent chapter of this Report. Furthermore, the export
via parcel post of locally manufactured sisal hand-bags, to which reference
has already been made, increased sharply, with the result that considerable
additional amounts had to be paid by the Post-Office Department to the
steamship lines transporting these articles. As a consequence of these
factors, expenditures of the Department of Commerce and National Econo-
my in 1942-43 were Gdes. 74,264.57 greater than in the prior year.
The expenditures of the Department of Public Instruction, the Agri-
cultural and Rural Education Service, the Department of Justice, as well
as payments to International Institutions were slightly higher than in the
preceding year while those of the Department of Agriculture and Labor
were fractionally lower.

Banque Nationale de la R6publique d'Haiti, Fiscal Department
The expenses of the Fiscal Department of the Banque Nationale de la
Republique d'Haiti, which includes the Customs Administration and the
Central Accounting Service of the Government, amounted to Gdes. 898,-
751.60. or Gdes. 458.09 less than in the preceding year, as the following
table shows: 1-4 1941-42
,Gourdes Gourdes
Salaries and wages................ 820,890.20 801,376.38
Supplies and materials............ 54,500.55 54,727.53
Transportation ...................... 17,349.35 24,976.59
Communications .................. 237.80 520.10
Rents .................................... 35,781.94* 903.55*
Repairs and maintenance........ 26,313.85 10,020.10
Equipment ............................ 9,191.84 7,018.69
Special and miscellaneous....... 6,049.95 1,473.85
Total...................... 898,751.60 899,209.69
Salaries and wages increased by some Gdes. 20,000 due primarily to the
operation of a new Port Authority, creation of which was reported in last
year's Annual Report. A number of the customs offices and warehouses
were repaired and painted in the course of the year and the total expendi-
tures for repairs and maintenance reached Gdes. 26,313.85 as compared
with Gdes. 10,020.10 in the preceding year. Special and miscellaneous
expenditures were higher than in 1941-42 due, in part, to the payment of
rewards to finders of rubber, life-boats and other salvaged articles around
the coast as well as the cost of transportation of these articles to a central
point for sale or other disposition. Rents collected in the course of the year
were Gdes. 35,781.94 above the amount expended on rents. This result
was due, fof the most part, to rental paid by the United States Surplus
Commodity Corporation for the use of a warehouse for a period of several
months.
Internal Revenue Service
The operating fund of the Internal Revenue Service is derived principal-
ly from the allowance of ten per cent of all internal revenue receipts
*Credit

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

collected and fifteen per cent of the communal taxes collected by the
Internal Revenue Service. During the fiscal year ended September
30, 1943, 10 per cent of internal revenues amounted to Gdes. 866,761.93
and 15 per cent of communal revenues totalled Gdes. 427,306.60. Other
accruals to the fund of the Internal Revenue Service, amounting to Gdes.
65,155.50, brought the total to Gdes. 1,359,224.03. Expenditures of the
Internal Revenue Service during the past two years were as follows:
1942-43 1941-42
Gourdes Gourdes
Salaries and wages................ 804,700.15 672,845.46
Supplies and materials.......... 160,208.46 98,759.67
Transportation .................... 100,945.16 66,006.95
Repairs and maintenance...... 14,269.94 9,694.65
Equipment .......................... 66,600.05 4,481.29
Miscellaneous ..................... 5,813.18 19,167.82
Total..................... 1,152,536.94 870,955.84

The increase in salary payments was accounted for by several factors.
First, there were certain increases in the staff as well as flat salary raises.
In the second place, a number of the Internal Revenue agents are paid
certain percentages, varying with the type of taxes, of the amounts which
they collect. It naturally follows that these percentage amounts, which are
classified as salaries, increase as the internal revenues increase. Revenue
statistics show that internal revenue collections rose by Gdes. 3,330,203.29
during the fiscal year 1942-43 when comparison is made with the previous
year.
The increase in the cost of supplies and materials is largely explained
by several new issues of stamps which were ordered in the course of the
year, the cost being paid by the Internal Revenue Service. The rise in
transportation charges resulted primarily from the fact that the staff of
traveling inspectors was considerably increased. The disbursements for
equipment increased sharply, due to the purchase of new automobiles,
adding machines, safes and other office machines. The Internal Revenue
Service also undertook the construction of an archives building and a
considerable part of the cost was charged to properties and equipment in
1942-43.
The accruals to the Operating Fund of the Internal Revenue Service
having amounted to Gdes. 1,359,224.03 and expenditures having totalled
Gdes. 1,152,536.94, there remained a balance of Gdes. 206,687.09 which
was returned to the Public Treasury.

Inspection Service
The Operating Fund of the Inspection Service is derived from an al-
lowance of five per cent of all internal revenues collected. These accruals
amounted to Gdes. 433,380.97 in 1942-43 while expenditures totalled
only Gdes. 200,732.09. The balance of Gdes. 232,648.88 was returned
to the Public Treasury.

Details of the expenditures of the Inspection Service in 1942-43 and in
1941-42 are listed below:
1942-43 1941-42
Gourdes Gourdes
"Salaries ........................ 114,262.96 104,394.96
Supplies ........................ 2,605.51 3,372.14
Transportation ........... 48,149.73 42,957.34
Equipment ...................... 9,810.31 1,614.62
Repairs ........................ 25,632.85 482.80
Miscellaneous .................. 270.73 172.50
Total.................. 200,732.09 152,994.36
Salary payments rose by some Gdes. 10,000, due primarily to the fact
that the Service assumed at the beginning of the year the full charges cover-
ing the salaries of certain inspectors. Previously, half of these salaries had
been borne by another budgetary account.
Transportation costs rose by some Gdes. 5,000, due to some expensive
maintenance jobs on the automobiles and to an increase of the inspection
force. The purchase of one automobile and of certain adding machines
and typewriters explains the increase of Gdes. 8,000 in the expenditures for
equipment.
Disbursements for repairs were some Gdes. 25,000 in excess of the
amount recorded in 1941-42. The majority of this amount was expended
in the repair, improvement and maintenance of the several residences main-
tained in Cap-Haitien, Gonaives, Saint-Marc, Petit-Goave and les Cayes for
the accommodation of the inspectors. A considerable proportion of the total
expenditures, however, represented the cost of painting the Palais des Fi-
nances, which houses the Fiscal Services.

Public Works Program Completed
Under a contract signed July 6, 1938, between the Haitian Government
and the J. G. White Engineering Corporation as modified by a further
contract dated September 30, 1941, the J. G. White Engineering Corpo-
ration undertook to execute in Haiti a program of public works to cost not
more than Gdes. 27,500,000. By mutual agreement, the J. G. White

BANQUET NATIONAL DE LA REPUBLIQUE D'HAITI

Engineering Corporation terminated its activities in Haiti at the end of
May, 1942, and the completion of the program was undertaken by the
Society Haitiano-Americaine de Developpement Agricole (SHADA). At
that time, the amount remaining for expenditure by SHADA under the
original authorization was Gdes. 804,910.95. Expenditures during the
last four months of the fiscal year 1941-42 reduced the amount available
during the year just ended to approximately Gdes. 250,000. All of this was
expended by September 30, 1943, thus bringing the total advances under
the contracts to Gdes. 27,500,000. As stated elsewhere in this Report,
amortization of the advances began before the end of 1942-43, when an
amount of Gdes. 150.000 was paid from budgetary appropriations. The
total obligation on this account at the end of the year, therefore, stood at
Gdes. 27,350,000.
Treasury Position
Government receipts increased by Gdes. 7,129,830.78 in 1942-43 while
disbursements increased by only Gdes. 303,820.02, when comparison is
made with the revenue and expenditure statistics of the preceding fiscal
year. The balance sheet of the Government showed an unobligated surplus
of Gdes. 4,286,334.50 at September 30, 1943 whereas at the end of the
preceding year treasury liabilities exceeded treasury assets by Gdes. 121,-
039.37. Treasury assets and liabilities at the end of the fiscal year 1942-43
were as follows:
Assets
Current assets Gourdes Gourdes
Deposit in banks:
Government gourde account......................... 6,693,583.70
New York current account............................. 872,707.60
Cash in hands of disbursing officers.................. 1,057,710.23
Public Works Contract and other checks............ 139,183.30 8,763,184.83
Investments
Capital stock of Banque Nationale de la Repu-
blique d'Haiti .............................................. 5,000,000.00
Bonds of the Republic...................................... 532,737.25 5,532,737.25
Other assets
Fiduciary currency in vault.............................. 2,050,528.93
Advances by Government, reimbursable................ 75,083.34 2,125,612.27
Total treasury assets................................ 16,421,534.35
Liabilities
Current liabilities
Outstanding checks............................................. 984,511.48
Balance of extraordinary appropriations............ 311,186.47
Balance in non-revenue accounts ...................... 2,002,735.26
Public Works Contract and other checks............ 139,183.30 3,437,616.51
Other liabilities
Capital stock of Banque Nationale de la R6pu-
blique d'Haiti ............................................. 5,000,000.00
Fiduciary currency fund.................................... 3,622,500.00
Advances by Government, reimbursable............... 75,083.34 8,697,583.34
Surplus .................. ................................................... 4,286,334.50
Total treasury liabilities.......................... 16,421,534.35

REPORT OF FISCAL DEPARTMENT

Th? improvement in the treasury position is shown by the following
comparison of treasury assets and liabilities at the end of each of the past
two years:
Assets September 30, 1943 September 30, 1942
Gourdes Gourdes
Current assets ................ 8,763,184.83 2,623,463.67
Investments .................... 5,532,737.25 5,532,737.25
Other assets .................... 2,125,612.27 3,557,069.81
Deficit ...................... .................... 121,039.37
Total.................. 16,421,534.35 11,834,310.10
Liabilities
Current liabilities............ 3,437,616.51 2,587,570.54
Other liabilities .......... 8,697,583.34 9,246,739.56
Surplus ........................ 4,286,334.50 ....................
Total.................. 16,421,534.35 11,834,310.10

An examination of the balance sheet presented above indicates that at
the end of the fiscal year 1942-43 there was owing to the Government an
amount of Gdes. 75,083.34 representing advances to certain organizations.
The corresponding figure at the end of the fiscal year 1941-42 was Gdes,
624,239.56, of which Gdes. 548,156.22 represented the amount due by
the Communal Administrations. In the first part of 1942-43 a cash pay-
ment of Gdes. 121,039,37 was made from reserves built up by the Com-
munal Administrations during the preceding fiscal year. This reduced the
Communal indebtedness to Gdes. 427,116.85. The latter amount was
written off in conformity with the decree-law of December 23, 1942,
which provided that the special payments to the Public Treasury, since
October 1, 1940, of 10 per cent of communal revenues, would be applied
toward amortization of the amounts still due the Government. Since the
advances by the government appeared on both sides of the balance sheet,
the write-off did not affect the Treasury position.

Public Debt
The gross public debt of the Republic of Haiti as of September 30,
1943, amounted to Gdes. 70,419,381.30. Table No. 43 presents a
statement of the public debt at the end of each fiscal year since 1915. For
convenient comparison, the portion of that table which shows the debt as
of September 30 of each year since 1924 (the year in which, through
refunding operations, and consolidation, the amount of the debt was
fixed in dollars) is reproduced here:
Year Gourdes Year Gourdes
1924.............. 121,048,501.20 1934.............. 60,830,435.79
1925................ 115,231,263.80 1935.............. 54,930,599.85
1926................ 108,307,079.30 1936............... 49,092,715.80
1927 ................ 99,706,855.09 1937................. 44,317,295.95
1928................ 94,438,115.05 1938................ 43,950,094.29
1929................ 88,677,396.00 1939................ 52,137,491.99
1930................ 82,705,649.35 1940................ 60,871,550.33
1931................ 78,357,576.10 1941................ 68,096,049.72
1932................ 72,625,870.96 1942................ 70,468,212.60
1933............... 66,901,412.84 1943...... ....... 70,419,381.30

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

The public debt of the Republic of Haiti consists of the amounts of
the Series A and Series C bonds of the 1922 loans still outstanding, the
advances received under the Public Works Contract of 1938 and fiduciary
currency not covered by reserves. These items at September 30, 1943, and
at the end of the preceding year were:
September 30, 1943 September 30, 1942
Gourdes Gourdes
Series A bonds............................... 33,977,074.10 34,107,015.70
Series C bonds.............................. 5,469,807.20 5,488,715.55
Public Works Contract of 1938.... 27,350,000.00 27,249,981.35
Fiduciary Currency .................... 3,622,500.00 3,622,500.00
Total........................................ 70,419,381.30 70,468,212.60

The figures shown for Series A and C bonds are net amounts, after
deduction of sums remaining in the Sinking Fund at September 30, 1943.
These unapplied amounts were:
Gourdes
Series A Sinking Fund...................................... 5,425.90
Series C Sinking Fund.................................. 7,124.70
Total............................ ....................... .. 12,550.60

Total expenditures from revenue for service of the public debt amount-
ed to Gdes. 3,732,734.43 during the fiscal year under review. Expendi-
tures for interest, amortization and handling charges on Series A bonds,
Series C bonds and the advances under the Public Works Contract of 1938'
were as follows:
Interest Amortization Expenses Total
Gourdes Gourdes Gourdes Gourdes
Series A bonds.................. 2,041,875.00 87,650.00 10,608.97 2,140,133.97
Series C bonds.................. 329,065.90 14,000.00 1,615.53 344,681.43
Public Works Contract.......... 1,094,052.28 150,000.00 3,866.75 1,247,919.03
Total...................... 3,464,993.18 251,650.00 16,091.25 3,732,734.43

All interest payments for the year on the outstanding indebtedness of
the Republic were met in full. The only Note issued under the Public
Works Contract of 1938 which fell due in 1942-43 was paid at maturity.
The amount of this Note was Gdes. 150.000. In conformity with a
supplementary Executive Agreement signed on September 30, 1942, be-
tween the Haitian and American Governments, only an amount of Gdes.
100,000 was paid for amortization of the Series A and Series C bonds
during the fiscal year 1942-43. This arrangement was a renewal of similar
Agreements signed in recent years when revenues have remained at very
low levels, except that the one for the fiscal year 1940-41 did not provide
for the payment of any amount on account of amortization.

The Budget

The 1942-43 budget, as promulgated, fixed expenditures at Gdes.
27,528,000. The original appropriation covered with reasonable adequacy

REPORT OF FISCAL DEPARTMENT

all government operating requirements although, as usual, there were a
number of additions to the budget during the year in the form of supple-
mentary appropriations to cover deficiencies which developed in the ordi-
nary budget. There were also opened in the course of the year a number
of extraordinary appropriations, but most of these as well as the majority
of the supplementary appropriations were compensated by cancellations
from various accounts carried in the original budget. The Internal Revenue
Service is authorized to expend a certain percentage of its effective receipts
to defray the cost of collection. Due to the fact that collections by the
Internal Revenue Service were much higher than the amount originally
estimated, the accruals to the operating account of this Service were
considerably in excess of the nominal amount carried in the general budget
of the Government.
The following table shows that total expenditure authorizations in the
course of 1942-43 amounted to Gdes. 28,939,955.83, while total expen-
ditures reached only Gdes. 28,029,981.62.

Budgetary Operations, 1942-43
Gourdes
Unexpended balance of extraordinary appropriations
as of September 30, 1942.............................. 10,495.58
OperatiL-6 budget as of October 1, 1942.................... 27,528,000.00
Total authorized expenditures at beginning of year 27,538,495.58
Accruals to operating account of Internal Revenue
Service over amount carried in budget............... 1,042,605.00
Appropriations opened but not compensated by can-
cellation of other credits............................. .. 358,855.25
Total authorized expenditures during year................ 28,939,955.83
Unexpended balance of budgetary credit at Septem-
ber 30, 1943,-cancelled.................................. 598,651.80
Balance in extraordinary credits which expired in
course of year................................................... 135.94
Unexpended balance in extraordinary credits at
September 30, 1943 carried over into 1943-44... 311,186.47 909,974.21
Expenditures, 1942-43 ............................................ 28,029,981.62

The definitive budget of the new fiscal year 1943-44 was not promulgat-
ed before the end of 1942-43. As explained in an earlier Section of this
Report, expenditures for the opening weeks of the new fiscal year were
authorized in accordance with the provisional budget promulgated in
May, 1943.

Banking and Currency
Haiti is served by two banks, the Banque Nationale de la Ripublique
d'-Ha'iti which is owned by the Haitian Government, and the Royal Bank
of Canada. The latter has its only Haitian office in Port-au-Prince. The
Banque Nationale de la Republique d'Haiti, besides its headquarters office
at Port-au-Prince, maintains branches and agencies at the twelve other open
ports of the Republic. In addition to its ordinary commercial operations

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

the Banque Nationale is the Government bank of issue and the sole de-
pository of all revenues and public funds of whatsoever nature of the
Government of Haiti.

The two banking institutions referred to above reported average loans
and discounts during 1942-43 totalling Gdes. 8,506,563.81 as compared
with Gdes. 7,564,504.58 in the preceding fiscal year.

Bank deposits showed a sharp increase over the previous year. Excluding
Government accounts, deposits in 1942-43 averaged Gdes. 24,214,759.22
as compared with an average of Gdes. 15,271,939.52 during 1941-42.

Currency circulation on September 30, 1943 and on the same date of
the previous year is shown in the table below:

The sharp increase in United States currency is explained by the impor-
tation during the year, of relatively large quantities of $1.00 and $2.00
bills to assist in meeting the local currency shortage. It is estimated that
some $1,250,000 (Gdes. 6,250,000) of this new money was in circulation
on September 30, 1943.

Inclusive of United States dollars, total currency in circulation at the end
of the past ten fiscal years has been estimated as follows:

Table No. 47 shows the circulation of gourde bank notes by months
over a period of years. The principal explanation of the increase in
currency circulation, including United States currency, lies in the fact that
the Soci&t6 Haitiano-Americaine de Developpement Agricole (SHADA),
as well as certain other corporations, are engaging, on a large scale, in the
production of rubber and other strategic materials. Employment in these

REPORT OF FISCAL DEPARTMENT

new activities during 1942-43 reached a high level, and disbursements
were heavy. Furthermore, Haitian agricultural workers and processors,
other than those just mentioned, continued in 1942-43 to receive good
prices for their products. While the shipping situation improved somewhat
in 1942-43, there continued to be a shortage of many types of consumer
goods. The inability to buy, together with the natural tendency of the
peasants to hoard, has apparently contributed to the increased circulation
of currency. It is interesting to note, however, from Table No. 48, that
individual deposits in banks increased from Gdes. 17,059,055.56 at the
end of 1941-42 to Gdes. 30,793,827.82 at September 30, 1943.

Supply Service
The Central Supply -Office known as the
continued, as a division of the Banque Nationale de la Republique d'Haiti,
Fiscal Department, to furnish stationery, office supplies and equipment to
the several Departments and Services of the Haitian Government. In spite
of the various licensing restrictions and transportation difficulties, the
Bureau was able to maintain fairly adequate stocks of the various supplies
reqv'red by the Government offices.
The Mohegan Trading Corporation of New York City continued to act
as Purchasing Agent of the Haitian Government in the United States
during 1942-43 and, in that capacity, executed orders placed by the
reau de Fournitures>.
The profit and loss statement of the for the
fiscal year 1942-43 appears in Table No. 45, while the balance sheet as of
September 30, 1943 is carried in Table No. 46.

Increased Foreign Commerce Values
Haitian exports and imports both showed substantial gains, in value,
during the fiscal year 1942-43.
Because of the disruption of shipping services and other special factors
arising out of the war, the volume of both exports and imports declined.
Detailed discussion of trade, in terms of volume, has been suppressed in
recent surveys as a matter of policy.' It may be stated, however, that
during the early months of 1942-43, banana shipments from Haiti almost
completely stopped and that the volume of sugar exports for the year was
much smaller than in the previous year. In this connection, it is encouraging
to record that, beginning with July, 1943, and for each month thereafter
to the close of the fiscal year, banana exports increased in volume and value
as compared with the previous month and with the corresponding month
of the previous year. It would seem, therefore, that if shipping facilities
continue to be made available for this trade, the low point of depression
for the banana business has been passed.

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

Prices were rising during 1942-43 and Haitian exporters and importers
benefited from the rise. Expressed in terms of value, there was a greater
proportionate increase in exports than in imports. At the year end, an
export balance of Gdes. 3,870,270 had been built up as compared with an
export balance of only Gdes. 601,224 at the end of the previous year.
Each of the five years preceding 1941-42 ended with an import balance.
It may be said, therefore, that Haiti's trade position was substantially
strengthened during 1942-43.
As stated in last year's Annual Report, the setting up of joint enterprises
such as SHADA and the operations of arrangements have
made it difficult to attempt to establish an accurate
for Haiti. On the trade account, exclusively, however, it may be said the
results for 1942-43 were encouraging.
The value of Haitian exports and imports, by year, for the past eight
years, and the respective trade balances, are given below:
Export Import
Exports Imports Balance Balance
Gourdes Gourdes Gourdes Gourdes
1935-36...................... 47,238,594 37,920,626 9,317,968 ................
1936-37....................... 44,854,450 46,075,660 ............ 1,221,210
1937-38....................... 34,731,952 37,973,889 ............ 3,241,937
1938-39................... 36,338,175 40,903,683 ............ 4,565,508
1939-40...................... 26,995,200 39,700,574 ............ 12,705,374
1940-41 ...................... 33,286,537 37,155,548 ............ 3,869,011
1941-42........................ 42,886,390 42,285,166 601,224 ................
1942-43................... 53,072,781 49,202,511 3,870,270 ................

The increase over the previous fiscal year of Gdes. 10,186,391, or 23.75
per cent, in Haitian export values in 1942-43, compared with an increase
of Gdes. 6,917,345, or 16.36 per cent, in import values.

Percentage of Imports by Countries of Origin

The following table shows the percentage of Haiti's imports from the
principal countries of origin, including colonies, dependencies and domi-
nions, for the fiscal year 1942-43 and 1941-42:
1942-43 191-42
Per cent Per cent
United States .............................. 76.77 76.44
M exico ........................................ 11.91 10.08
British Commonwealth ............... 4.51 7.02
Netherlands ................................ 2.69 3.42
Argentina ...................................... 2.66
All other...................................... 1.46 3.04
100.00 100.00

Mexico, in 1941-42, largely as a result of cotton textile shipments,
figured for the first time as an important supplier of Haitian import pro-
ducts. It is of interest that, in 1942-43, Mexico's share of this trade was
slightly increased.
Soap, butter and meat products were the principal imports into Haiti
in 1942-43 from Argentina.

REPORT OF FISCAL DEPARTMENT

Imports from the United States of America

The value of imports from the United States by principal commodities
for the past three fiscal years is shown below:

Textiles and clothing are, normally, by far the most important item
of Haitian import trade. The changes during the past two years in the
relative importance of the various groups shown above are thought to be
due, for the most part, to restrictions on trade imposed by the war.

The prices of certain categories of import products increased in 1942-43
as compared with 1941-42, while others declined. The increases, however,
applied for the most part, to products such as cotton textiles, wheat flour
and soap, which make up a large percentage of total Haitian imports.
The table below shows CIF prices as computed from customs records
for leading commodities during the past four years:

The unit prices of leading commodities imported during the year under
review, as shown above, did not increase so sharply as did those of 1941-42
over those of the year 1940-41.
It is of interest that the price of fish dropped from Gde. 0.67 to Gde.
0.38 per kilo. This was due to the fact that 78.6 per cent of Haitian
imports of fish during the year were dried conchs from the Bahama Islands,
a much cheaper grade of fish than is usually imported. Due to war condi-
tions, the better quality of fish normally imported from the United States
and Canada is not now available.
The marked drop in the CIF price of kerosene was accounted for by the
fact that kerosene is now imported in bulk rather than in cases or drums as
was the case during previous years.

Port-au-Prince Trade Continues to Gain

The trend, noted last year, towards concentration of Haitian import
trade through the port of Port-au-Prince at the expense of the so-called
outports, was accentuated during 1942-43.
The following table shows the percentage of Haitian imports, by ports
of entry, for the past three fiscal years:

Haitian import trade is now centered almost exclusively at Port-au-
Prince. War conditions have, obviously, tended to increase the importance
of the capital and.principal city as a port of entry into Haiti.

Percentage of Exports by Countries of Destination

The percentage of Haitian exports taken by the various countries of
destination including colonies, dependencies and dominions during the fiscal
years 1941-42 and 1942-43 is shown below:

1942-43
Per cent
United States ........................................ 80.61
British Commonwealth............................ 12.98
Colombia ............................................. 3.89
All other.............................................. 2.52

100.00

1941.42
Per cent
79.46
13.37

7.17

100.00

Colombia, in 1942-43, took a place in the list of markets for Haitian
products by purchasing Gdes. 2,061,360.00 worth of Haitian cotton.

Exports to the United States of America

Coffee continues to be, by far, the most important item in the list of
Haitian exports to the United States. During the year under review,
exports of coffee to the United States increased markedly both in value
and volume.
The following table shows the value of exports to the United States by
principal commodities for the last three fiscal years:

Although a minor item in Haiti's total export trade, sales abroad of
sisal hand-bags have shown consistent expansion over the past few years.
The figures quoted above do not reflect the true situation. A percentage,
presumably important, of this trade has been shipped abroad by Parcel
Post and up to July 31, 1943, the value of Parcel Post shipments was not
reflected in the figure of total exports. In view of what was believed to be

the important expansion of this trade, steps were taken, in July, 1943. to
have Parcel Post shipments declared for Customs purposes. In this way,
the value of sisal hand-bag shipments by Parcel Post, as of August, 1943,
is included in the figure of total exports of this article. Provided no res-
trictions are imposed on this trade, the figures for future years should show
a marked increase over those published above.

The relative importance of coffee as an item in Haiti's export trade
increased in 1942-43, while the relative importance of sugar andbananas
declined.

Percentage of Exports by Ports

Port-au-Prince gained considerably in importance, in 1942-43, as a
port of shipment of Haitian export products. The explanation lies, for
the most part, in the fact that, during the year, coffee was shipped in
considerable quantities, coastwise, to the Capital for transshipment to the
United States. The decline in the export of bananas from provincial ports,
however, was also a factor in strengthening, relatively, the position of
Port-au-Prince.
The percentage of exports shipped through the various Haitian ports is
shown in the following table:
1942-43 194142
Per cent Per cent
Port-au-Prince ................................ 70.31 42.14
Fort-Libert ...................................... 15.60 16.06
Cap-Haitien .................................... 6.34 10.36
Cayes ................................................ ........ 6.43
Saint-M arc ...................................... 3.92 6.00
Jacmel ............................................ 0.01 5.88
Gonaives .......................................... 1.81 4.18
Port-de-Paix .................................. 0.44 3.53
J&ermie ............................................ 0.08 3.19
Petit-Goive .................................... 1.37 1.22
M iragoine ...................................... 0.04 1.00

REPORT OF FISCAL DEPARTMENT

Of total exports, 0.08 per cent, valued at Gdes. 40,194, was shipped
through the Dominican frontier ports.

The United States in 1942-43 continued to be the chief purchaser of
Haitian coffee although Canada took a share of the trade.
The following table shows the quantity of coffee exported during the
last two fiscal years, by countries of destination:
1942-43 1941-42
Kilos Per cent Kilos Per cent
Canada ................................ 1,926,400 7.5 ................ ........
Switzerland ........................ 308,000 1.2 40,000 0.2
United States ...................... 23,519,187 90.9 18,033,709 99.6
All other.............................. 93,650 0.4 31,002 0.2
25,847,237 100.0 18,104,711 100.0

Coffee exports, in 1942-43, made up some 53.86 per cent, in value, of
total Haitian exports, and the revenue derived from these shipments was
91.50 per cent of total export revenue. The importance of coffee as a
factor in Haitian economic life is readily apparent from the foregoing.

Cotton
The average price received for Haitian cotton in 1942-43 was somewhat
higher than the price received for the previous year's crop. The increase
was not sufficient, however, to compensate for a decline in the volume of
total cotton exports. The total value received for 1942-43 cotton exports
was Gdes. 2,148,929 as against Gdes. 2,359,852 for the previous year,
the volume of cotton exports having declined from 2,289,530 kilos in
1941-42 to 2,001,899 kilos in 1942-43.
The average F. O. B. prices received for'Haitian cotton during the last
ten fiscal periods are shown below:

Colombia, in 1942-43, once again, as in 1941-42, took almost all of
Haitian cotton exports, although Cuba took a small amount and Curacao
an amount much smaller even than Cuba's share.

Sugar
Sugar exports declined, sharply, in 1942-43, both in volume and value,
as compared with the previous year, as shown below. The F.O.B. price
of sugar, however, was higher in 1942-43 than in the previous year.

The United Kingdom, in 1942-43 once again, took the bulk of Haiti's
sugar crop having purchased 11,246,966 kilos valued at Gdes. 3,286,049.

Bananas
Significant among the developments of 1942-43 was the apparent be-
ginning of a revival of banana exports.
Total exports of bananas for the year were very much smaller, both in
value and volume, than those for any recent year as shown below:

While exports for the year declined, the detailed figures of exports of
bananas for the latter months of 1942-43, viewed in sequence, are en-
couraging as indicative of a trend. During the early months of the fiscal
year, because of the lack of ships to transport bananas, exports of this pro-

REPORT OF FISCAL DEPARTMENT

duct were almost completely stopped. During the summer of 1943,
however, ships began once more to be made available for the transport of
Haitian bananas to the United States, and each of the last three months
of the fiscal year witnessed an increase in banana exports, both in volume
and value, as compared with the previous month and with the same month
of the previous year.
The following table shows the number of stems of bananas exported
during the fiscal year ended September 30, 1943, the value and the ports
of shipment, compared with those of the previous fiscal year:
1942-43 1941-42
Stems Gourdes Stems Gourdes
Cap-Haitien ................ 29,113 68,417 317,991 755,736
Cayes ............................ ............ ............ 142,787 335,650
Gonaives ...................... 98 232 27 63
Jacmel ....................... ............ ............ 94,095 221,122
M iragoine .................... ........... ............ 39,085 91,851
Port-au-Prince................ ............ ............ 302,080 709,886
Port-de-Paix ............ 49,148 115,497 354,470 833,006
Saint-Marc .................... 525,336 1,234,543 680,770 1,599,808
603,695 1,418,689 1,931,305 4,547,122
Banana shipments decreased by 68.74 percent in quantity and by 68.80
per cent in value in 1942-43 as compared with 1941-42.

War Emergency Services
War conditions have resulted in an increase in the number of formalities
involved in the transaction of business. In order that the-new requirements
may, as little as possible, obstruct the normal process of trade, certain new
Services have been set up. These include:
Import Control
This Service was organized by the Haitian Department of Commerce and
National Economy with a view to meeting, as of April 15, 1943, the new
formalities involved in the importation of merchandise both of United
States production and transit shipments through the United States.

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

In view of measures applied in the United States by the Board of
Economic Warfare> (which later became the Foreign Economic Adminis-
tration), it was decided that, in general, every purchase order originating in
Haiti should be accompanied by an issued by
the Import Control Service and approved by the Embassy of the United
States.
Prior to April 15, 1943, the importation of only such products as were
subject to export quotas in the United States, were subject also to special
Haitian import controls. With respect to such products the Haitian
Office>, operating under the control of the Government Department of
Commerce and National Economy.issued a supplanted and extended the scope of the.
In general, the new procedure was designed to enable the Haitian
Government to control the distribution of the different categories of goods
allocated to Haiti by the United States, and also to allocate available
tonnage as wisely as possible among the different categories of merchandise,
with a view to regulating arrivals in Haitian ports.
The formality has been extended, by special
arrangement between the Governments of the United States and Canada, to
include also purchases of Canadian goods.
- Up to September 30, 1943, more than 6,500
tions> had been issued by the Import Control Service.
Gasoline Rationing
As early as July 1, 1942, a beginning was made of gasoline rationing
in Haiti, 66 2/3 per cent of 1941 consumption having been distributed,
without control over individual use, for the three months ended September
30, 1942.
With the beginning of the fiscal year at present under review, as of
October 1, 1942,, the allocation of gasoline was still further reduced to 40
per cent of 1941 consumption, and it became necessary to devise a rationing
system which would assure reasonable amounts of gasoline to individual
users.
The 40 per cent of 1941 consumption, or 818,853 gallons, which
represented the 1942-43 quota for the open market, was distributed by the
Department of Commerce and National Economy as follows:
Per cent
Non-Essential Public Services*
Missions and Companies recognized as being of
Public Utility 34
Embassy and Legations
Transport of Foodstuffs.............................................. 24.0
Public Transport ...................................................... 14.0
Private Transport .................................................... 8.0
Doctors, Industrial workers, Travel, etc................... 19.5
T otal................................................................ 100.0
*Public Services recognized as being such, for example, as the armed forces, are subject to no
restriction of the use of gasoline.

REPORT OF FISCAL DEPARTMENT

Other petroleum products subject to rationing systems in Haiti are kero-
sene, gas oil and heavy diesel oil, the latter being used, exclusively, by the
Electric Light Company of Port-au-Prince and Cap-Haitien. The heavy
diesel oil quota for 1942-43, which represented 60 per cent of 1941 con-
sumption, was considered insufficient to meet the country's requirements.

Tire Rationing
Although, as stated elsewhere in this Report, imports of tires for certain
organizations engaged in the production of strategic materials increased
markedly in 1942-43 as compared with the previous year, imports of tires
for general public use were low and the shortage in this latter category was
felt.
A special Service was established, as of February 15, 1943, to take over
the duties of a Committee which, up to that time, had rationed tires in
Haiti.
During the entire fiscal year ended September 30, 1943, there was
distributed a total of approximately:
1,061 tires and inner tubes for automobiles
1,511 tires and inner tubes for trucks
Autobuses have been constructed to help meet the transportation requi-
rements of the population of Port-au-Prince. These autobuses connect the
Capital with its principal suburbs and normally transport a daily average
of 2,000 persons.

To Encourage Inter-American Trade
Important among developments in the field of Haitian commercial policy
during the fiscal year under review was the extension, by decree-law of May
19, 1943, of the minimumm tariff to all the American Republics.
Somewhat more than eight years ago, as of April 15, 1935, the Haitian
(1926) tariff was modified to provide for a 100% increase over the
established (1926) rates in the case of countries which, during the fiscal
year October 1932-September 1933, did not buy Haitian goods valued, at
least, at one per cent of total Haitian exports or whose sales to Haiti, during
the period mentioned, were valued at less than one half of one per cent of
total Haitian imports.
Special circumstances led to the enactment of the above measure. It was
designed to assist in preserving certain Haitian sources of supply and certain
markets for Haitian export products. During the course of time, especially
after the outbreak of World War II, conditions changed and, in more
recent years, the existence of maximum and minimum tariff rates has served,
at least in principle, to discourage the expansion of Haitian commercial
relations with certain countries of the Western Hemisphere.
In the spring of 1943, the proposition was advanced that, under favor-
able conditions, profitable trade might be developed between Haiti and

30 BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

Brazil. With a view to encouraging the development of trade, not only
with Brazil, but also with other American Republics subject to the imaxi-
mum> tariff, action was taken, as indicated above, to extend the emini-
mum> tariff to all countries of the Western Hemisphere.
Certain countries, notably in the Near East and Far East, still remain,
for the present, subject to the tariff. The question of extend-
ing to these countries the benefit of the tariff will, presumably,
be taken up at a more appropriate moment when trade with them has, once
more, become a practical possibility.

Air Transport Gains

The use of air transport facilities for passenger and freight traffic be-
tween Haiti and the North and South American continents and the islands
of the Caribbean area, continued to expand during the fiscal year ended
September 30, 1943, as shown by the following tables compiled from Pan
American Airways records:

The number of Pan American commercial aircraft landing in Port-au-
Prince during the fiscal year 1942-43 was 2,093 or an average of more than
five a day.
The expansion of Air Express traffic was more marked than the expan-
sion of passenger traffic, outgoing shipments having increased by some
137 per cent and incoming shipments having increased by some 73 per
cent as shown below:

Expansion of exports, by Air, of sisal hand-bags and other novelties
produced by hand out of Haitian raw materials, to which reference has been
made elsewhere in this Report, should be recalled in considering the large
increase shown above, in outgoing shipments by Air Express.

K L M Establishes Service
During the fiscal year under review, arrangements were completed where-
by the KLM (Royal Dutch Air Lines) will include Port-au-Prince on
regular North and Southbound flights. The first official flight of this new
Service was made on August 18th. The Company's contract with the

REPORT OF FISCAL DEPARTMENT

Haitian Government was, however, made public only on September 27,
and to the end of the fiscal year, no more than a beginning had been made
of developing Haitian freight and passenger traffic by KLM planes.

Domestic Air Mail Service Inaugurated
Difficulties of communication by road, especially during periods of bad
weather, between Port-au-Prince and provincial cities have, in the past, on
occasion, seriously handicapped the transaction of business, both Govern-
ment and private. During the year under review, an important step was
taken toward solving this problem through the establishment of a domestic
Air Mail Service.
What is thought to be the earliest mention of a domestic Air Mail
Service in Haiti is a notice published towards the end of January, 1925,
regarding semi-weekly flights between Port-au-Prince and Cap-Ha'itien.
With the cooperation of United States Marine Corps planes and pilots, this
Service was subsequently extended to include several of the principal pro-
vincial cities. Following discontinuance of this early venture, however,
Haiti was, until 1943, for many years, dependent entirely on motor and
animal transportation for the distribution of domestic mail.
On May 31, 1943, a new domestic Air Mail Service was established
with the help of the Air Corps of the Garde d'Ha'iti. Plans called for
regular flights three times a week between Port-au-Prince and Cap-Ha'itien,
Port-de-Paix, Gonaives, M61e Saint-Nicolas and Hinche, on the one hand,
and Port-au-Prince and Cayes, Jacmel and Jeremie, on the other.
In this connection, it should be reported that construction work was
carried forward in 1942-43 by the Department of Public Works, on Land-
ing Fields at Port-au-Prince, Pignon, Hinche, Anse-a-Pitres, Jacmel, Cap-
Haitien, Ouanaminthe, Gonaives, Port-de-Paix, M61e Saint-Nicolas, Cayes,
Jiremie and Eaux Gaillees (Thomazeau).
It would be difficult to exaggerate the importance to Haiti of improved
postal facilities of this character.

Change in Membership of Bank Board
Through the death of Mr. Edmond Etienne, which occurred at Port-
au-Prince on May 20, 1943, the Board of Directors of the Banque Na-
tionale de la Republique d'Haiti lost one of its most valued members.
Mr. Etienne was replaced, as a member of the Bank Board, by Mr. Serge
Leon Defly, a Haitian official of wide experience in the fields of finance and
diplomacy. Immediately prior to his appointment as a member of the
Board, Mr. Defly had been serving as his country's Secretary of State for
Foreign Affairs.
Social Security Fund
On May 17, 1943, a decree-law was published establishing a Social
Security Plan for day laborers employed by agricultural organizations, the

BANQUET NATIONAL DE LA REPUBLIQUE D'HAITI

necessary funds to be derived from an obligatory contribution of one
gourde, deducted fortnightly from the workers' wages.
The Social Security Fund is administered by a Board of Directors
consisting of the Secretaries of State for Finance and for Agriculture, the
Co-President of the Banque Nationale de la Republique d'Ha'iti, the Direc-
tor of the Public Health Service, and two other members chosen by the
President of the Republic.
The purpose of the plan, as expressed in the decree-law which sanctions
it, is to aid day laborers engaged in agricultural work who are unable to
support themselves and their families on account of (a) old age; (b) acci-
dent; (c) loss of the use of land due to the execution of the Government's
War Program. In the latter case, funds are made available to establish the
interested parties elsewhere and to finance the production of exportable
commodities or foodstuffs.
As of the end of the fiscal year, an amount of Gdes. 340,151.81 stood
on the books to the credit of the Social Security Fund.

Control of Coastwise Traffic
Creation, in 1942, within the framework of the Customs Administra-
tion, under the direction of the Banque Nationale de la Republique d'Ha'iti,
Fiscal Department, of a Central Port Service designed to increase the
security of Haitian ports, was reported in last year's Annual Report.
During the year under review, in addition to other activities, the Port
Service reported progress in registering, classifying and establishing control
over the many small sailing vessels which operate in coastal waters. This
aspect of the work of the Port Service is believed to deserve special mention
here. Although designed primarily as a military measure, the control,
which tends also to increase the security of life and property at sea will, it
is hoped, continue after the cessation of hostilities and prove to be perma-
nently beneficial.
During the fiscal year 1942-43, a beginning was made of registering all
vessels more than eighteen feet long engaged in Haitian coastwise trade. A
full description of each vessel with the name of the owner and crew, has
been obtained and made a matter of record. Each vessel has received an
identifying number and this number has been prominently printed on the
sail and on the hull. As of the end of the fiscal year, a total of 348 vessels
engaged in Haitian coastwise trade had thus been numbered and marked.
Experience has proved that there is heavy mortality among Haitian
coastwise vessels and among the persons who operate and travel on them.
Lack of adequate inspections, a tendency to overload and overcrowd and
uncertain weather conditions in the Haitian area, have all contributed to
bring about this result. The Port Service has endeavored to correct the
situation by making inspections and by limiting and controlling the
amount of cargo loaded and persons carried: It is believed that as a result

REPORT OF FISCAL DEPARTMENT

of' these measures the situation which previously existed has tended to im-
prove. The Port Service reports with regret, however, that during the year
under review, a total of 34 sailing vessels were lost along the Haitian coast
or. in Haitian harbors, chiefly as a result of storms, and that 26 persons
lost their lives in these accidents.

Joint Action for Highway Maintenance
Plans for cooperation between the Public Roads Administration of the
United States of America and the Haitian Department of Public Works for
the rehabilitation, as an emergency measure, of certain roads link-
ing Haiti and the Dominican Republic were embodied in a memorandum
signed by representatives of the two Government Departments concerned
on November 30, 1942. These plans were subsequently confirmed by
decree of the President of Haiti dated January 5, 1943.
As of January 11, 1943, work was begun on reconstructing the 120
kilometers (approximately 75 miles) of road connecting Beudet-Mireba-
lais-Lascahobas-Carizal. Heavy floods in June completely destroyed
certain portions of this road between Morne-a-Cabrit and Mirebalais.
Plans ware later made for surveys of new roads to replace the destroyed
portions of the old, and as of the end of the fiscal year, the work was
reported to be progressing.
As of May 3, 1943, reconstruction of some 60 kilometers (approximate-
ly 38 miles) of the Cazeau-Malpasse road was undertaken. As of the end
of. the fiscal year work on the project was reported to be some 75 per cent
completed.
S*i Oil Exploration Undertaken
"'On October 19, 1943, a decree-law was published, ratifying an agree-
ment of September 28, 1942, entered into between the Haitian Government
and the Atlantic Refining Company; modifying the contract of August
14,i 1939, which conceded to a citizen of the United States of America,
Harold C. Bishop, the exclusive right to prospect and exploit, in determin-
ed areas of the Republic, petroleum, natural gases and other hydrocarbonic
substances with the exception of lignite and coal. This concession of
August 14, 1939, was subsequently assigned to the Atlantic Refining
Company.
...The new agreement clarifies certain provisions of the original contract
with.a view toassuring better execution of reciprocal commitments.
.,During the fiscal year 1942-43, the Atlantic Refining Company, in
anticipation of the inauguration of active operations, paid taxes on 171,-
676 hectares of land (approximately 424,218 acres) chosen by the Com-
pany for exploration.
American Sanitary Mission
Organization, in May 1942, under the control of the Office of the Co-
Ordinator of Inter-American Affairs, of an American Sanitary Mission to

BANQUET NATIONAL DE LA REPUBLIQUE D'HAITI

undertake health and sanitation activities in Haiti, in conjunction with the, was reported in the Annual Report
of the Fiscal Department for the fiscal year ended September 30, 1942.
During the fiscal year at present under review, the American Sanitary
Mission completed fourteen projects. Seven of these were for malaria
control drainage in the districts of Port-au-Prince, M61e Saint-Nicolas, and
Petit-Goive, the Petit-Goive drainage being supplementary to the work
of the Rockefeller Foundation. Other projects completed, included cons-
truction of two markets in the Port-au-Prince district, construction of a
Quarantine Station in Port-au-Prince Bay, construction af a diet kitchen for
the Public Health Nursing School at the General Hospital, construction of
a barracks and sanitary installations at Fort Lamentin, construction of
small houses for removed from the slum area adjacent to the
Pan American airplane base and a recreation center for the service men at
Bowen Field.
The Mission whose work, according to present plans, will continue
through 1946, had under way, as of September 30, 1943, twelve health
and sanitation projects designed, chiefly, to combat malaria and yaws in
the districts of Port-au-Prince, Jacmel, Aux Cayes, Port-de-Paix, Cap-
Haitien and Petit-GoSve, while seven new projects were pending.

Soci6te Haitiano-Amfricaine de DWveloppement Agricole (SHADA)
Brief reference was made in last year's Annual Report to plans for the
intensive cultivation by SHADA, operating in conjunction with the
Rubber Reserve Company, of Cryptostegia, a rapidly growing plant,
indigenous to Haiti, the latex of which produces rubber of a superior
quality.
During the fiscal year ended September 30, 1943, although work was
carried forward on SHADA's long term development program, public
interest centered, for the most part, on Cryptostegia. This interest was
natural in view of the special problems created by the war emergency; of the
experimental character of Cryptostegia cultivation, and of the relatively
important amounts of money made available for the work.
Many unknown factors were involved in the development of the Cryp-
tostegia program, chief among which was, perhaps, the question of whether
or not the plant was subject to attack by serious pests. Towards the end
of the fiscal year, a severe infestation of beetle grubs was found in the
Artibonite area and, as a result, Cryptostegia activities in that area were
liquidated. The original program of 85,000 to 100,000 acres was thus
reduced to about 65,000 by the liquidation of the Artibonite area. Labor
difficulties, spots of poor land in some areas and lack of suitable land in
other areas further reduced the total area to be planted to approximately
45,000 acres.

REPORT OF FISCAL DEPARTMENT

As will be recalled, SHADA's regular activities include the production
of hevea rubber, sisal and lumber, while a Handicrafts Division encourages
weaving and the individual production of embroidery and novelties out
of native raw materials. Under these several headings, progress was report-
ed during the fiscal year under review.
Towards the middle of the year, it was estimated that SHADA was
employing, on its Cryptostegia and regular programs combined, a total of
some 86,000 persons. Of this figure, field labor was estimated to constitute
some 85 per cent. Statistics published elsewhere in this Report show the
extent to which currency circulation and bank deposits increased in Haiti
during the fiscal year 1942-43. The activities of SHADA were an im-
portant factor in bringing about this increase. The figures, taken in con-
junction with the employment figures quoted above, are an indication of
the character and importance of SHADA'S role in Haiti's economic life.

Conclusion

During the fiscal year ended September 30, 1943, commercial and finan-
cial operations were adjusted to meet new requirements arising out of war
conditions. Prices, in general, were rising throughout the year and Haitian
economy benefited accordingly. The value of imports and exports was
substantially higher than during 1941-42 and Government receipts both
from Customs duties and internal taxes showed marked gains.
Although the shipping shortage continued to make itself felt and sea
transport services continued to function irregularly, Haiti's essential requi-
rements were met in 1942-43. The year's results appear to prove that,
although abnormal conditions have resulted in dislocations of trade and
although commercial and financial operations are handicapped by prohibi-
tions and restrictions of various sorts, the effect of the war on Haitian
economy has, on the whole, been beneficial.
The immediate future, therefore, appears to be assured.
And yet it would seem unwise either to derive satisfaction from the
present or to look ahead with complacency.
The improvement in economic conditions reported for 1942-43 resulted
from entirely artificial stimuli. It was not the result either of normal
growth or healthy development. The removal or alteration of the artificial
stimuli which will, necessarily, result from changes in the war situation, are
ever-present sources of potential danger. There can be no assurance regard-
ing the longer-term future of Haiti so long as war conditions continue to
be the dominant factor in the country's economic life. For this reason it
would seem unwise to look beyond the immediate present and, by the
same token, it would seem unwise to enter into commitments relating to
an uncertain longer-term future.

BANQUE NATIONAL DE LA REPUBLIQUE D'HAITI

,,This said, it may be permitted to close the present Report on a note of
guarded optimism. War conditions which, it seemed for a time, might
prove disastrous to Haiti have, on the whole, with the practical help
extended by the United States of America, resulted in a form of prosperity.
While there should be no illusion regarding the character of this prosperity,
the outlook, for the immediate future, at least, appears to be relatively
bright.

*Fluctuations in the value of the gourde prior to its stabilization May 2, 1919 have been calculated and are reflected in statistics of revenue before 1919-20.
tAmounts represent payments by various communes to defray cost of services rendered by the Internal Revenue Service in the collection of communal revenue.

*Amounts represent payments by various communes to defray cost of services rendered by the Internal Revenue Service in the collection of Communal revenues.
tDebit.

REPORT OF FISCAL DEPARTMENT-APPENDICES 65

TABLE No. 35

ORDINARY, SUPPLEMENTARY AND EXTRAORDINARY APPROPRIATIONS
FROM REVENUE-FISCAL YEARS 1940-41 TO 1942-43

Public debt:
Series A loan.....................
Series C loan.....................
International Institutions......
Interest, transfer charges and
other cost financing the
Public Works Contract of
1938....................................

Receipts
Custom s..................................................................................
Internal Revenue........................ ..................
Miscellaneous ....... ......................................................
Receipts form communes t.......................... ...............
Total revenue receipts.........................................
Public Works Contract 1938...........................................
Total receipts................................ ................
Expenditures
Public debt:
Series A loan..................................................................
Series C loan...............................................
Interest, transfer charges and other cost of
financing the Public Works Contract 1938 ........
International Institutions..........................................